UK Announces Tax Reforms That Will Affect Apple, Amazon, and Other Tech Companies

The UK Government has announced a new regulation which could impact tech companies, particularly Apple, Amazon and Uber who have been evading taxes by diverting profits to tax havens overseas. UK Chancellor Philip Hammond in his Treasury speech mentioned that royalties stored in offshore accounts will be taxed by the government. The rule applies as long as the companies are earning profits from the UK market.

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